Opec, the oil-producing cartel, will need to increase production significantly in the second half of the year in order to meet world demand, according to the west’s energy watchdog.
While production gains of about 400,000 barrels a day in April have gone some way towards easing tight global markets, the International Energy Agency says a bigger increase will be needed in the second half of the year when consumption picks up after the northern hemisphere summer...............................................Full Article: Source